Mattos Filho assists NFE in deal with Mitsubishi and Toyo-Setal
Mattos Filho Advogados advised New Fortress Energy on the drafting and negotiation of an EPC Agreement with Mitsubishi Power Industries and Toyo-Setal for the implementation of the Barcarena gas-fired thermoelectric power plant.
The transaction constitutes a landmark case because it represents the first major investment (over USD 500 million) in the development of the new power generation installed capacity on Brazil’s North region, assuring the security of the power supply in case of droughts (like the one experienced in 2020/2021), which severally impacted the power generation capabilities of the region. The EPC is expected to generate over 3.000 new jobs in Pará.
The development of the power plant is also a cornerstone on the energy transition being implemented in Brazil, allowing for the decommission of the old diesel-fired thermoelectric power plants installed in the region, which are significantly more pollutant.
The transaction value was not disclosed.
Mattos Filho represented New Fortress Energy and relied on partners Alexandre Arlota (pictured left) , Thiago Moreira (pictured right) and associate Carlos Herculano Capeletti Cubillas.
White & Case represented the same partie and relied on partner David Strickland and lawyers Raffaele Turco and Carlos Ramon.
Davis Polk represented Mitsubishi Power Americas and Toyo Setal Empreendimentos with partner James Vickers.
Toledo Marchetti acted as local counsel for Toyo Setal with partners Rodrigo Petrasso, Marcelo Marchetti and lawyer Felipe Lisboa.
